Blab Crypto
Ripple Secures Preliminary MiCA CASP License Ahead of EU Deadline
On 23 June 2026, Ripple announced that Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) had granted a preliminary approval for its Crypto Asset Service Provider (CASP) licence under the EU’s Markets in Crypto‑Assets (MiCA) regulation. The company dubbed the approval a “green‑light letter,” noting that it remains contingent on meeting final conditions but will enable Ripple to provide regulated crypto‑asset services to financial institutions and businesses throughout the 30 member states of the European Economic Area.
The CASP approval sits alongside Ripple’s existing Electronic Money Institution (EMI) licence and its registration with the United Kingdom’s Financial Conduct Authority (FCA). Combined, these authorisations equip EU firms, banks and fintechs to transact crypto assets and stablecoins via Ripple’s infrastructure.
Cassie Craddock, Ripple’s managing director for the UK and Europe, said the MiCA framework would “unlock” markets and support the company’s scaling ambitions. The announcement arrives as the EU nears the July 1 deadline for full compliance with MiCA.
MiCA, which took effect on 30 December 2024, obliges crypto‑asset service providers to secure a CASP licence and mandates stable‑coin issuers to satisfy specific capital and governance requirements.
The regulatory environment has proven difficult for many operators. In 2024, the EU granted crypto firms an 18‑month window to apply for MiCA licences. Of the roughly 1,200 applications received, only about 200 met the stringent criteria. Binance, one of the largest exchanges, reportedly encountered obstacles, and up to 60 % of EU crypto users may face disruptions once the deadline passes.
Other market participants have already reacted to MiCA’s implications. OKX, a global exchange, cautioned that as many as 80 % of unregulated platforms could falter. In an email to AMBCrypto, CEO Erald Ghoos wrote, “MiCA is a massive wake‑up call for the industry, and we expect that up to 80% of unregulated platforms simply won’t survive this shift.” He noted that the true test would commence on 2 July.
Several stable‑coin issuers have already obtained full MiCA licences. Circle, for instance, holds a complete licence under the regime. Ripple’s own RLUSD stablecoin recently hit a record $1.8 billion in circulating supply, a milestone that could be propelled further by regulatory clarity and fresh partnerships.
While the preliminary CASP approval marks a notable advance for Ripple, it remains provisional. The CSSF’s green‑light letter depends on the company satisfying remaining conditions. Upon final approval, Ripple will achieve full MiCA compliance and be positioned to broaden its regulated services throughout the EU.
The wider industry is monitoring the outcome closely. July 1 will be the first date on which MiCA’s CASP requirements are fully enforced, and the coming weeks will reveal which firms can satisfy the regulatory thresholds. Ripple’s progress exemplifies the trajectory for companies that have established robust compliance frameworks.
Over the next few months, market participants will track the finalisation of Ripple’s CASP licence, the status of other firms’ applications, and the operational deployment of stable‑coin services under MiCA. The results will shape the future of regulated crypto‑asset services in Europe and affect competitive dynamics among exchanges, payment providers, and fintechs.
For now, Ripple’s preliminary approval marks a pivotal milestone in the EU’s push to bring crypto‑assets under a unified regulatory framework. By leveraging its existing licences and infrastructure, the company is poised to play a central role in Europe’s evolving digital‑asset ecosystem.
The CASP approval sits alongside Ripple’s existing Electronic Money Institution (EMI) licence and its registration with the United Kingdom’s Financial Conduct Authority (FCA). Combined, these authorisations equip EU firms, banks and fintechs to transact crypto assets and stablecoins via Ripple’s infrastructure.
Cassie Craddock, Ripple’s managing director for the UK and Europe, said the MiCA framework would “unlock” markets and support the company’s scaling ambitions. The announcement arrives as the EU nears the July 1 deadline for full compliance with MiCA.
MiCA, which took effect on 30 December 2024, obliges crypto‑asset service providers to secure a CASP licence and mandates stable‑coin issuers to satisfy specific capital and governance requirements.
The regulatory environment has proven difficult for many operators. In 2024, the EU granted crypto firms an 18‑month window to apply for MiCA licences. Of the roughly 1,200 applications received, only about 200 met the stringent criteria. Binance, one of the largest exchanges, reportedly encountered obstacles, and up to 60 % of EU crypto users may face disruptions once the deadline passes.
Other market participants have already reacted to MiCA’s implications. OKX, a global exchange, cautioned that as many as 80 % of unregulated platforms could falter. In an email to AMBCrypto, CEO Erald Ghoos wrote, “MiCA is a massive wake‑up call for the industry, and we expect that up to 80% of unregulated platforms simply won’t survive this shift.” He noted that the true test would commence on 2 July.
Several stable‑coin issuers have already obtained full MiCA licences. Circle, for instance, holds a complete licence under the regime. Ripple’s own RLUSD stablecoin recently hit a record $1.8 billion in circulating supply, a milestone that could be propelled further by regulatory clarity and fresh partnerships.
While the preliminary CASP approval marks a notable advance for Ripple, it remains provisional. The CSSF’s green‑light letter depends on the company satisfying remaining conditions. Upon final approval, Ripple will achieve full MiCA compliance and be positioned to broaden its regulated services throughout the EU.
The wider industry is monitoring the outcome closely. July 1 will be the first date on which MiCA’s CASP requirements are fully enforced, and the coming weeks will reveal which firms can satisfy the regulatory thresholds. Ripple’s progress exemplifies the trajectory for companies that have established robust compliance frameworks.
Over the next few months, market participants will track the finalisation of Ripple’s CASP licence, the status of other firms’ applications, and the operational deployment of stable‑coin services under MiCA. The results will shape the future of regulated crypto‑asset services in Europe and affect competitive dynamics among exchanges, payment providers, and fintechs.
For now, Ripple’s preliminary approval marks a pivotal milestone in the EU’s push to bring crypto‑assets under a unified regulatory framework. By leveraging its existing licences and infrastructure, the company is poised to play a central role in Europe’s evolving digital‑asset ecosystem.
